A landslide was expected and Mamata Banerjee did not disappoint. The Trinamool alliance decimated the Left Front, garnering a three-fourth majority and ending the three-decade long reign of the communist party. The Left has conceded defeat and incumbent chief minister Buddhadeb Bhattachejee has resigned.
The DMK has been thrashed in Tamil Nadu and comeback queen Jayalalithaa is set to become chief minister for the third time after a gap of over a decade. Ousting DMK in the keenly-contested elections in which the 2G scam was a major issue.
The market gave the results thumbs up with a 400 point rally. However, it let go of half of its gains at closing. Here is a verbatim transcript of Udayan Mukherjee
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